Charity buying equity in Property

00ec25

mummyfrugal wrote: »

In reply to above, we are in 'better position' as we can buy it faster for the same price but thats not the point im making.

but they did not sell it to you so you are not in a better position are you

The reason I am 'aggrieved' is that if she already has her own 'PORTFOLIO OF PROPERTIES' why should she get equity paid by a charity?

you have NO IDEA what the business relationship is between the charity and this alledged proprty magnate you seem so aggrieved about


I am sure anyone who donates to charities would prefer that monies for equity are only for those employees who are unable to buy properties in their area to carry out the charity work.

actually buying properties simply to house employees would not be allowed by the charity commission as that is certainly not a charitable purpose. If the accomoidation was however releted to the work then as a tied house it would be allowed, eg care home worker

Otherwise its not a charity - its just a support for property investors. One of her houses is about 20 mins away by car, so im guessing its just adding to her portfolio.

as I explained before charities need investements too, they would be wise to do so using people experiecned in property investments and you have no idea what the role of this person is, they may well be the charity's duly appointed property agent

Nice to know what really happens to all those donations people make.

what a silly sweeping generalisation, you have no idea why the charity has invested in this property and have no ability to find out. All you are doing is ranting over the fact you lost out on a house purchase to a buyer who, in the vendor's opinion was better than you, and rather sadly trying to make out that the charity uis somehow at fault for investing its money with a view to generating more money to support its charitable purposes - whatever they are

time to move on

princeofpounds

I'm surprised there is so little concern about the nature of this transaction.

Buying a part-share of a property for a potentially affiliated party is actually a very unusual method of 'investment' and as someone who works with investments myself I can think of all sorts of ways this could be abused.

Like the others I would want more detail before I passed judgement, but this is not a normal transaction.

mummyfrugal

00ec25 wrote: »

what a silly sweeping generalisation, you have no idea why the charity has invested in this property and have no ability to find out. All you are doing is ranting over the fact you lost out on a house purchase to a buyer who, in the vendor's opinion was better than you, and rather sadly trying to make out that the charity uis somehow at fault for investing its money with a view to generating more money to support its charitable purposes - whatever they are

time to move on

Hmm we are in a better position as we can complete faster and with less paperwork - so it is very suspicious. Charity equity means a fuller survey (what vendor wants that?) and two solicitors representing the charity and the buyer.... more paperwork and delays so i dont see how that is 'better than you' but then im not hotheaded and ready to snap back at people.

Please get it out of your head that I am not 'moving on' and ranting on about losing a purchase - we have already looked at other properties and 'moved on' weeks ago! So we are not particularly bothered that someone else has got it.... but... my rant is because I recently discovered that a charity was buying in some of the equity - the property is expensive and has a high asking price for what it is, so i can also see no way of the charity gaining any return on its investment for a very long time, and as it needs work to be done on it I cannot envisage rental income being anything to happy about either.

While im on here Ive been thinking about what charities would want the property if using it for charitiable services, as it clealy would not be suitable for a children/animal charity and would not work as a rental for shared accommodation either.... a bit of a mystery!

I am not sad, but I tell you what is sad, is that people everyday give to charities and if charities help their employees to live locally thats fine, but what is sad is if they share equity with people with property portfolios - I am sure that if the charity concerned was to go public with such transactions it would lose a substantial amount of support... and rightly so in my book.

I am sure that there are many other investment routes a charity can take other than with an invidual's property portfolio.

Just remember, this could be happening in a house next to you!!

mummyfrugal

In reply to prince of pounds

as soon as i get more info on this the charity commission will be my next port of call, as the more i think about this the more it does not ring true and with charity monies i think public interest is very important, or where is the line drawn?

preable

have you ever thought the charity maybe to re house ex offenders when they are released so therefore nothing wrong